Millennium Management LLC decreased its position in shares of Chinook Therapeutics, Inc. (NASDAQ:KDNY) by 23.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 311,561 shares of the company’s stock after selling 97,926 shares during the quarter. Millennium Management LLC’s holdings in Chinook Therapeutics were worth $4,399,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Legal & General Group Plc raised its holdings in Chinook Therapeutics by 74.9% during the 2nd quarter. Legal & General Group Plc now owns 2,510 shares of the company’s stock worth $35,000 after purchasing an additional 1,075 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in Chinook Therapeutics by 122.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,466 shares of the company’s stock worth $35,000 after purchasing an additional 1,357 shares during the last quarter. Royal Bank of Canada raised its holdings in Chinook Therapeutics by 193.7% during the 2nd quarter. Royal Bank of Canada now owns 2,182 shares of the company’s stock worth $30,000 after purchasing an additional 1,439 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Chinook Therapeutics during the 2nd quarter worth approximately $28,000. Finally, Alliancebernstein L.P. raised its holdings in Chinook Therapeutics by 30.6% during the 2nd quarter. Alliancebernstein L.P. now owns 31,620 shares of the company’s stock worth $446,000 after purchasing an additional 7,400 shares during the last quarter. Hedge funds and other institutional investors own 67.90% of the company’s stock.
KDNY has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Chinook Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, October 19th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Chinook Therapeutics in a research note on Monday, October 18th.
Chinook Therapeutics (NASDAQ:KDNY) last posted its quarterly earnings results on Sunday, November 7th. The company reported ($0.69) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $0.12. Chinook Therapeutics had a negative net margin of 13,190.38% and a negative return on equity of 47.56%. Analysts forecast that Chinook Therapeutics, Inc. will post -3.37 EPS for the current fiscal year.
In other news, Director Srinivas Akkaraju acquired 1,215,000 shares of the stock in a transaction that occurred on Monday, November 15th. The shares were acquired at an average cost of $14.00 per share, for a total transaction of $17,010,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Versant Venture Capital Vii, L sold 510,000 shares of the company’s stock in a transaction dated Friday, August 27th. The shares were sold at an average price of $14.00, for a total value of $7,140,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,425,000 shares of company stock worth $19,952,981 over the last ninety days. Insiders own 29.75% of the company’s stock.
Chinook Therapeutics Profile
Chinook Therapeutics, Inc is a clinical-stage biopharmaceutical company, which engages in discovering, developing, and commercializing precision medicines for rare, severe chronic kidney diseases. The company was founded in 2019 and is headquartered in Seattle, WA.
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